General Awareness: Economics Quiz 6

1. The main source of India's national income is?
a) Agriculture
b) Industry
c) Forestry
d) None of the above

2. The Planning Commission of India as per Indian Constitution is?
a) An autonomous body
b) An executive body
c) An advisory body
d) A Government department3.Who compute the National Income in India?
a) Central Statistical Organisation
b) Ministry of Finance
c) Planning Commission
d) None of these4.KYC (Know Your Customer) regulations have been introduced in financial transactions under which regulation?
a) Prevention of Money Laundering Act
b) Banking Companies Act
c) Companies Act
d) None of these5."Inflation increases the average level of prices". What does this statement refers to?
1. The price of commodities exceeds income.
2. In real terms, the Money supply grows at a higher rate than the Gross Domestic Product.
a) Only 1
b) Only 2
c) Both 1 and 2
d) Neither 1 nor 26.India changed over to the decimal system of coinage in
a) April 1995
b) April 1957
c) April 1958
d) April 19597. Inflation occurs when aggregate supply is
a) more than aggregate demand
b) less than aggregate demand
c) equal to aggregate demand
d) None of these8. In Economics, production means
a) manufacturing
b) making
c) creating utility
d) farming9. According to modern thinking, the law of diminishine returns applies to
a) agriculture
b) industry
c) mining
d) all fields of production